The strength of a stock relative to the S&P 500 is key part of most traders decision making process. Hence the default reference security is SPY, the most commonly trades S&P 500 ETF.
Most profitable traders buy stocks that are showing persistence intermediate strength verses the S&P as this has been shown to work. Hence the default period is 63 days or 3 months.
Checks the correlation between 10 of the Major Currency pairs.
Currency pairs includes: EURUSD, AUDJPY, AUDUSD, EURGBP, EURJPY, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY.
Relative Strength Line compares equity's price performance with S&P 500 (default). The indicator will retrieve current equity value comparing it with S&P 500 equivalent time frame.
S&P 500 is set as the default index for comparison. This value can be change to any equity available in the market, located at the format settings of the indicator.
Version IV of the SCSM, this time thanks to @SAACI I learned more about the financial markets and some math stuff. This time I switched the formula a bit to use Zscores:
(close-sma(close,shortma))/stdev(close,dev)
This creates a nice oscillator like view, if you overlay TWO of them, one longer and one shorter you can get almost perfect absolute highs and...
Use this indicator to compare how security is performing in compare with preferred index (SPX by default).
> 0 outperforming
< 0 underperforming
Works best for weekly, but can be applied to monthly and daily charts. It will be rather useless to use it in smaller timeframes
Apply it to SPX, industry index, sector index or other security in similar sector
Buy and sell pressure indicator, according to MY opinion of AI Brooks Price Action method (in particular the concept of buy and sell pressure that it presents).
As I have some difficulty in analysing the pressure from the context shown in the graphic, I have created an indicator that counts the bodies (and trend-favouring shadows) of the last bars, in order to...
Simply plots the close to close performance of your instrument vs SPX below your main chart
Offers further SMA of EMA of such relative performance to get a better idea of the relative strength against the major market
The Stock Market Institute (SMI) describes an propriety indicator the "SMI Wyckoff Wave" for US Stocks. This code is an attempt to make a Wyckoff Wave for the Johannesburg Stock Exchange (JSE). Once the wave has been established the volume can also be calculated. Please see code for the JSE Wyckoff Wave Volume which goes with this indicator.
The Wave presents a...
An AsYouWish component of Inigo Montoya's Quest, dynamic strategy. This is not a stand alone indicator. It is instead designed/skewed to provide RSI-based trade recommendations, immediately following a reversal stop-out. It's suitable for any time frame, from 1 minute to 1+day bars.
I'm proud to finally announce the Crypto measurer!!!, 20 coins chosen from the selection available at Binance, you're free to modify the code to add your own coins or remove them or if you use another exchange.
This works similar to the SCSM, except it's for cryptos, never miss a PUMP & DUMP scheme again, don't get tricked into buying the losing coins anymore....
This is an updated version to the Currency Strength Measurer I created before. I'm not updating that script due to differences in the features and in the idea. The original script was a lagging indicator, I hope that this one is more of a leading indicator, the idea is the same. This indicator has way fewer inputs and it's more lightweight. Try it and compare it...
Relative strength is a ratio between two assets, most often a stock and a market average (index). This implementation uses the method described here and the second method described here to calculate its value: "To calculate the relative strength of a particular stock, divide the percentage change over some time period by the percentage change of a particular...
Compare the strength of the current stock to a benchmark (default SPX).
Includes a SMA (default 13 weeks/3 months).
Best used on the weekly time frame.
